Charity number: 1158213
ELLIE'S LOVE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
ELLIE'S LOVE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
ELLIE'S LOVE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 JUNE 2023
Trustees Nick Loades George Loades Alessandra Ficarra Elaine Loades Charity registered number 1158213 Principal office Killarney School Road Fakenham Norfolk NR21 7NW Accountants MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ
Page 1
ELLIE'S LOVE
TRUSTEES' REPORT FOR THE PERIOD ENDED 30 JUNE 2023
The Trustees present their annual report together with the financial statements of the Charity for the period 6 April 2022 to 30 June 2023.
Objectives and activities
a. Policies and objectives
The objects of the Charity are to promote the relief of children and young persons suffering from Cystic Fibrosis and their families through the provision of financial assistance, support, practical advice or such other means as the Trustees may from time to time determine.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The objects of the Charity are wide ranging and can therefore be achieved in a number of ways. As the Trustees we have an obligation to assess the options available to us year on year and consider the benefit that they could provide to the Charity.
The Charity carries out these objects by:
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Organising events to raise awareness and much needed funds that can be used by the Charity or donation to other organisations with similar objectives.
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Making donations to individuals and their families who are in some way being impacted by Cystic Fibrosis. This may be in the form of toys purchased for hospital wards or donations towards a short break.
c. Activities undertaken to achieve objectives
Throughout the period to 30 June 2023, with the lifting of the Covid-19 enforced lockdowns, the Charity was able to start fundraising again and chose to do this with the following fundraising events:
-
The first fundraising event of the period was the Angel Ball. Organised in tandem with friend Kyra Welch, the Charity held a ball at Holkham Hall in November 2022.
-
Shortly after we attended the local Christmas tree festival, an annual event held in Fakenham church.
-
The third event of the period was a Barn dance held in June 2023.
-
The final event of the period was a climb up Mount Snowdon and this was again completed in tandem with Kyra Welch.
A local business, The Chequers Inn, also supported the Charity by collecting money at their quiz night.
The Charity received a number of donations in the period and would like to thank M Stamford, a long time supporter of the Charity, as well as all those who donated in memory of M Loades at his funeral in May 2022.
Page 2
ELLIE'S LOVE
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Objectives and activities (continued)
d. Main activities undertaken to further the Charity's purposes for the public benefit
The main activity undertaken in the period was the Angel Ball in November 2022. This event was an opportunity for local people to come together to celebrate an evening with family and friends whilst also raising much needed funds for East Anglia’s Children’s Hospices (EACH). As mentioned above the Charity, along with significant support and dedication from Kyra Welch, sold tickets to the event and found sponsors for tables and the arrival drinks as well as donations for auction prizes to be sold on the night.
Representatives from EACH attended on the night, sharing information on how the funds raised could be used to support children and their families. Nick and Kyra also shared first hand stories of the impact the Charity had had on them.
In addition to the above the Charity made the following donations:
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Purchase of toys for the children’s ward at the Norfolk and Norwich University Hospital
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Donation made towards funeral costs for a Cystic Fibrosis sufferer
-
Donation made towards a break at Center Parcs for a Cystic Fibrosis sufferer
Achievements and performance
a. Main achievements of the Charity
The main achievement of the Charity in this period is the success of the Angel Ball and the resulting donation of £16,660 that we were able to make to East Anglia’s Children’s Hospices.
The Trustees would like to thank everyone who supported the event, as well as all other events in the year, and made this such a success.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The Charity has been well supported over the previous years and the Trustees will continue to generate income in the future to increase this further. Due to the nature of the Charity and the significant funds available, the balance held as unrestricted funds at 30 June 2023 was £38,485, the Trustees do not have a set level of funds which they look to maintain. This also allows the Charity to support a project requiring significant funds should the opportunity present itself.
However, the Trustees operate the Charity on the basis that events will be successful and any surplus funds can then be spent on donations similar to those outlined above.
Page 3
ELLIE'S LOVE
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Structure, governance and management
a. Constitution
Ellie's Love is a registered Charity, number 1158213, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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∂ select suitable accounting policies and then apply them consistently;
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∂ observe the methods and principles of the Charities SORP (FRS 102);
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∂ make judgments and accounting estimates that are reasonable and prudent;
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∂ state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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∂ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ ................................................ Nick Loades George Loades (Chair of Trustees) (Trustee)
Date: 24 April 2024
Page 4
ELLIE'S LOVE
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 JUNE 2023
Independent examiner's report to the Trustees of Ellie's Love ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 30 June 2023.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 25 April 2024 F M E Shippam BSc FCA DChA
MA Partners LLP
Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ
Page 5
ELLIE'S LOVE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 JUNE 2023
| Note Income from: Donations and legacies 3 Other trading activities 4 Total income Expenditure on: Raising funds 5 Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds Period ended 30 June 2023 £ 1,123 37,082 38,205 20,372 19,846 40,218 (2,013) 40,498 (2,013) 38,485 |
Total funds Period ended 30 June 2023 £ 1,123 37,082 38,205 20,372 19,846 40,218 (2,013) 40,498 (2,013) 38,485 |
Total funds 5 April 2022 £ 240 3,344 |
|---|---|---|---|
| 3,584 | |||
| - 360 |
|||
| 360 | |||
| 3,224 | |||
| 37,274 3,224 |
|||
| 40,498 |
The Statement of financial activities includes all gains and losses recognised in the period.
The notes on pages 8 to 16 form part of these financial statements.
Page 6
ELLIE'S LOVE
BALANCE SHEET AS AT 30 JUNE 2023
| Note Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total net assets Charity funds Unrestricted funds 14 Total funds |
2,104 40,355 42,459 (3,974) |
30 June 2023 £ 38,485 38,485 38,485 38,485 |
- 40,498 40,498 - |
5 April 2022 £ 40,498 |
|---|---|---|---|---|
| 40,498 | ||||
| 40,498 | ||||
| 40,498 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ Nick Loades George Loades (Chair of Trustees) (Trustee)
Date: 24 April 2024
The notes on pages 8 to 16 form part of these financial statements.
Page 7
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
1. General information
Ellie's Love is a Charity registered in England and Wales and its registered office is Killarney, School Road, Colkirk, Fakenham, NR21 7NW.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Ellie's Love meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 8
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
2. Accounting policies (continued)
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Page 9
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
3. Income from donations and legacies
| Unrestricted funds Period ended 30 June 2023 £ Donations 1,123 Total 2022 240 |
Total funds Period ended 30 June 2023 £ 1,123 240 |
Total funds 5 April 2022 £ 240 |
|---|---|---|
4. Income from other trading activities
Income from fundraising events
| Unrestricted funds Period ended 30 June 2023 £ Charity Ball 31,807 Barn Dance 3,895 Christmas Trees 573 Other Fundraising 807 37,082 Total 2022 3,344 |
Total funds Period ended 30 June 2023 £ 31,807 3,895 573 807 37,082 3,344 |
Total funds 5 April 2022 £ - - 522 2,822 |
|---|---|---|
| 3,344 | ||
Page 10
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
5. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds Period ended 30 June 2023 £ Charity Ball 17,871 Barn Dance 2,501 20,372 |
Total funds Period ended 30 June 2023 £ 17,871 2,501 20,372 |
Total funds 5 April 2022 £ - - |
|---|---|---|
| - |
6. Analysis of grants
| Grants to | Grants to | Total | ||
|---|---|---|---|---|
| Institutions | Individuals | funds | Total | |
| Period | Period | Period | funds | |
| ended | ended | ended | ||
| 30 June | 30 June | 30 June | 5 April | |
| 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Grants | 16,660 | 499 | 17,159 | - |
Page 11
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
7. Analysis of expenditure on charitable activities
Summary by fund type
| Cystic Fibrosis support activities Total 2022 Analysis of expenditure by activities Activities undertaken directly Period ended 30 June 2023 £ Cystic Fibrosis support activities 1,667 Total 2022 360 Analysis of direct costs Gifts for beneficiaries |
Unrestricted funds Period ended 30 June 2023 £ 19,846 360 Grant funding of activities Period ended 30 June 2023 Support costs Period ended 30 June 2023 £ £ 17,159 1,020 - - |
Total Period ended 30 June 2023 £ 19,846 360 Total funds Period ended 30 June 2023 £ 19,846 360 Total funds Period ended 30 June 2023 £ 1,667 |
Total 5 April 2022 £ 360 |
|---|---|---|---|
| Total funds 5 April 2022 £ 360 |
|||
| Cystic Fibrosis support activities Total 2022 Analysis of direct costs Gifts for beneficiaries |
|||
| Total funds 5 April 2022 £ 360 |
8. Analysis of expenditure by activities
Page 12
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Total | ||
|---|---|---|
| funds | Total | |
| Period | funds | |
| ended | ||
| 30 June | 5 April | |
| 2023 | 2022 | |
| £ | £ | |
| Governance | 1,020 | - |
9. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,020 ( 2022 - £ - ).
10. Trustees' remuneration and expenses
During the period, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the period ended 30 June 2023, no Trustee expenses have been incurred (2022 - £NIL) .
11. Debtors
| Due within one year Prepayments and accrued income |
30 June 2023 £ 2,104 2,104 |
5 April 2022 £ - |
|---|---|---|
| - |
Page 13
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
12. Creditors: Amounts falling due within one year
| Accruals and deferred income Resources deferred during the period Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
30 June 2023 £ 3,974 30 June 2023 £ 2,954 30 June 2023 £ 40,355 |
5 April 2022 £ - |
|---|---|---|
| 5 April 2022 £ - |
||
| 5 April 2022 £ 40,498 |
13. Financial instruments
Financial assets measured at fair value through income and expenditure comprise of cash and cash equivalents.
Page 14
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
14. Statement of funds
Statement of funds - current period
| Balance at 6 April 2022 £ Unrestricted funds General Funds - all funds 40,498 Statement of funds - prior period Balance at 1 April 2021 £ Unrestricted funds General Funds - all funds 37,274 Analysis of net assets between funds Analysis of net assets between funds - current period Current assets Creditors due within one year Total |
Income £ Expenditure £ 38,205 (40,218) Income £ Expenditure £ 3,584 (360) Unrestricted funds 30 June 2023 £ 42,459 (3,974) 38,485 |
Balance at 30 June 2023 £ 38,485 Balance at 5 April 2022 £ 40,498 Total funds 30 June 2023 £ 42,459 (3,974) 38,485 |
|---|---|---|
15. Analysis of net assets between funds Analysis of net assets between funds - current period
Page 15
ELLIE'S LOVE
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
15. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Current assets Total |
Unrestricted funds 5 April 2022 £ 40,498 40,498 |
Total funds 5 April 2022 £ 40,498 |
|---|---|---|
| 40,498 |
16. Related party transactions
The Charity has not entered into any related party transaction during the period, nor are there any outstanding balances owing between related parties and the Charity at 30 June 2023.
Page 16